Thiruvananthapuram: The government of Kerala on Tuesday said that the union government's plan to privatise Bharat Petroleum Corporation Limited (BPCL) would not adversely impact the interests of its ambitious Petrochemical park, being set up in Kochi.
Industries Minister P Rajeev said to the state Assembly that the Kerala Industrial Infrastructure Development Corporation (KINFRA) and the BPCL had signed an MoU last month to ensure the availability of raw materials to the enterprises launching their business in the upcoming park. His statement reads: “The entrepreneurs, who launch their business in the proposed park, are going to depend on the BPCL for the required raw materials. The KINFRA and the BPCL entered into an MoU on September 24 this year. With this, the availability of raw materials can be ensured to the enterprises without any hurdle”
The Minister also said the Rs 300 crore Petrochemical Park is expected to boost the expansion of Kochi Oil Refinery under the BPCL and thus pave the way for the formation of a cluster of petrochemical related industries making use of raw materials from there.
The park, coming up on 481.79 acres of land acquired by the state government from Fertilisers and Chemicals Travancore (FACT), a central public sector undertaking, is being set up by the Industries Department in collaboration with Bharat Petroleum Corporation Limited (BPCL), official sources said.